The burgeoning U.S. prediction market sector closed a busy week of activity.
Each Friday at SBC Americas, we highlight some of the biggest headlines and stories you may have missed involving prediction markets.
This week in the prediction market industry, Polymarket shuttered its waitlist, allowing iOS users in the U.S. to download and access the company’s U.S. exchange. Polymarket is offering users event contracts nationwide after previously exiting the U.S. in 2022.
Meanwhile, Minnesota House and Senate members advanced a measure that aims to ban the operation and advertising of prediction markets. The measure, Senate File 4760, is heading to Gov. Tim Walz’s desk for final consideration and a potential signature.
Here’s more prediction market news that shaped this week’s U.S. gaming industry.
Kalshi teams up with an iconic sports property
Kalshi bolstered its portfolio of partners by securing a deal with Madison Square Garden Entertainment Corp. The multiyear agreement makes Kalshi an official prediction market partner of Madison Square Garden and also includes branding at the historic venue.
“Madison Square Garden is an iconic staple in the lineage of New York cultural history and we couldn’t be more thrilled to officially become a part of the MSG family,” said Kalshi Head of Sports Partnerships, Adam Barrick.
“Both MSG and Kalshi share a common vision of engaging consumers on the interests they are most passionate about – whether that be pop culture, sports, music or entertainment.”
As part of the deal, Madison Square Garden has renamed its sixth-floor concourse the Kalshi Concourse. The concourse will include digital Kalshi signage for all events. Kalshi will also have digital and physical advertising just outside of Madison Square Garden.
Polymarket inks deal with a major pro soccer league
Polymarket continued its busy week on Thursday by scoring a partnership with Serie A.
The deal between Polymarket and Serie A USA makes Polymarket the exclusive U.S. prediction market partner of Italy’s top-flight soccer league.
“The United States represents a key growth market for Serie A,” said Serie A Marketing and Commercial Director Michele Ciccarese. “Our exclusive alliance with Polymarket, as regional partner in the USA, lets us engage a new generation of fans through a platform that embodies emerging trends.”
The agreement allows Polymarket to integrate its brand into Serie A’s digital and media channels. Serie A will also work with Polymarket to provide trading markets using official league data. The official Serie A data is provided by Genius Sports.
In addition to Serie A, Polymarket is also a partner of LALIGA North America.
The NFL recommends new rules to the CFTC
On Friday, the NFL sent a letter to the Commodity Futures Trading Commission (CFTC) about the availability and delivery of sports event contracts nationwide.
America’s most popular professional sports league provided the CFTC with recommendations that include raising the minimum age requirement for prediction markets that offer sports event contracts to 21 years old. The league also wants to prohibit prediction markets from offering markets that can be easily manipulated by a single player.
The NFL provided the recommendations to protect the integrity of competition. The league also wants to protect consumers and players from fraudulent or manipulative behavior.
Interactive Brokers debuts innovative platform
Interactive Brokers is providing U.S. consumers with a new option for trading event contracts. On Thursday, the broker launched a unified interface that allows users to trade across three major prediction markets: Kalshi, CME Group, and ForecastEX.
The interface allows trading across all three prediction markets using a single platform.
“Prediction markets are reshaping how investors think about risk and uncertainty,” said Interactive Brokers CEO Milan Galik. “We decided to offer flexible access to this rapidly growing market across multiple venues from a single platform, which aligns with the convenience our clients are used to when trading US stocks or options.”
The interface only allows users to trade certain event contracts. Users can trade event contracts tied to political and economic events, but sports markets are not available.
